Archer Aviation (NYSE:ACHR) Trading Up 1.6% – Still a Buy?

Archer Aviation Inc. (NYSE:ACHR)’s share price traded up 1.6% on Monday . The company traded as high as $6.21 and last traded at $6.1250. 34,207,443 shares were traded during mid-day trading, a decline of 9% from the average session volume of 37,628,859 shares. The stock had previously closed at $6.03.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ACHR. Canaccord Genuity Group boosted their price objective on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 21st. The Goldman Sachs Group began coverage on shares of Archer Aviation in a research note on Monday, December 1st. They set a “neutral” rating and a $11.00 price target on the stock. Needham & Company LLC lowered their price target on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Archer Aviation Stock Up 1.6%

The firm has a market cap of $3.99 billion, a price-to-earnings ratio of -6.19 and a beta of 3.10. The business’s 50-day moving average is $7.50 and its 200-day moving average is $8.63. The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.89 and a current ratio of 19.89.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The business had revenue of $0.30 million for the quarter, compared to analysts’ expectations of $1.40 million. The company’s revenue for the quarter was up 29900.0% compared to the same quarter last year. On average, equities analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity

In related news, CFO Priya Gupta sold 10,172 shares of Archer Aviation stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $6.46, for a total value of $65,711.12. Following the completion of the transaction, the chief financial officer directly owned 171,754 shares of the company’s stock, valued at $1,109,530.84. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Thomas Paul Muniz sold 94,725 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $611,923.50. Following the sale, the chief technology officer directly owned 1,345,430 shares in the company, valued at approximately $8,691,477.80. This represents a 6.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 344,899 shares of company stock worth $2,420,548. 7.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Archer Aviation

Institutional investors have recently modified their holdings of the stock. Fund Advisors of America Inc FL bought a new stake in shares of Archer Aviation during the fourth quarter valued at approximately $178,000. World Investment Advisors raised its position in Archer Aviation by 37.7% in the 4th quarter. World Investment Advisors now owns 19,400 shares of the company’s stock worth $146,000 after purchasing an additional 5,309 shares during the last quarter. Corient Private Wealth LLC raised its position in Archer Aviation by 20.9% in the 4th quarter. Corient Private Wealth LLC now owns 43,389 shares of the company’s stock worth $327,000 after purchasing an additional 7,515 shares during the last quarter. EMC Capital Management lifted its holdings in Archer Aviation by 22.5% during the 4th quarter. EMC Capital Management now owns 13,600 shares of the company’s stock worth $102,000 after buying an additional 2,500 shares in the last quarter. Finally, Tulsa Wealth Advisors INC acquired a new position in Archer Aviation during the 4th quarter worth $100,000. 59.34% of the stock is owned by institutional investors.

Archer Aviation Company Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.